FORT WORTH, TX, July 14 /PRNewswire-FirstCall/ - On-site and online
bidders from Mexico purchased US$8 million of heavy equipment and trucks
from the US$35 million unreserved public auction conducted by Ritchie Bros.
Auctioneers (NYSE and TSX: RBA) in Fort Worth, Texas last week.
Out-of-state bidders purchased US$22 million of equipment in total (62
percent of the gross auction proceeds), including US$12 million of
equipment (34 percent) that was purchased by buyers from outside the United
States. The participation of bidders from as far away as India, Nigeria and
the U.K. - on-site, online and by proxy - helped deliver higher than
expected returns for consignors, with particularly strong prices on
excavators and cranes. Trucks also sold well, despite the current high cost
of fuel.

    Ritchie Bros. (http://www.rbauction.com), the world's largest industrial
auctioneer, conducted the unreserved public auction at its permanent
auction site in Fort Worth on July 9, 10 & 11, 2008. The large selection of
equipment being sold - more than 2,400 items in total - attracted more than
2,200 registered bidders from 45 countries, as well as 47 U.S. states. More
than 1,300 people registered to bid in person or by proxy; the other 900
registered to bid over the internet. Online bidders purchased US$8 million
of equipment. Since introducing its real-time internet bidding service,
rbauctionBid-Live, in 2002, Ritchie Bros. has sold more than US$2 billion
of equipment over the internet.

    "The strong Mexican economy is driving infrastructure spending and
generating a lot of work," said David Hobbs, Ritchie Bros. Division
Manager. "Contractors in booming regions like Mexico need equipment they
can put straight to work. They travel to our Fort Worth auctions knowing
they can find the different types of equipment they need, from motor
graders to wheel loaders to excavators, all in one place. They can test,
inspect and compare equipment from multiple sellers; they can socialize
with other people in their industry; and they can feel confident bidding on
auction day because they know every item will be sold, with no reserves and
no artificial price manipulation."

    Jordan Paving sold a number of items in the auction, including an
asphalt batch plant that was purchased by an on-site bidder from Mexico and
a generator that was purchased by an internet bidder from Saudi Arabia. The
company has been buying and selling equipment at Ritchie Bros. auctions for
almost 20 years.

    "When you're selling equipment you've got to go where you'll get the
best prices, and that's a Ritchie Bros. auction," said Mart Jordan,
president of Jordan Paving. "They have a good reputation and name
recognition around the world, and that's what brings in the buyers. The
more buyers there are, from more places, the better the prices. We've sold
equipment to people from as far away as Australia and the Middle East at
Ritchie Bros. auctions."

    About Ritchie Bros.

    Established in 1958, Ritchie Bros. is the world's largest auctioneer of
industrial equipment, operating through over 110 locations in more than 25
countries around the world. The Company sells, through unreserved public
auctions, a broad range of used and unused industrial assets, including
equipment, trucks and other assets utilized in the construction,
transportation, material handling, mining, forestry, petroleum, marine,
real estate, and agricultural industries. The Company maintains a web site
at http://www.rbauction.com.

    Investors and potential investors should note that this information may
not be indicative of the overall financial performance of the Company for
this or any period.

    CONTACT: Kim Schulz, Corporate Communications Manager, Ritchie Bros.
Auctioneers, Mobile: (604) 788-5379 or toll free: 1-800-663-8457 or email:
kschulz@rbauction.com; Or David Hobbs, Division Manager, Ritchie Bros.
Auctioneers, Fort Worth auction site, tel: (817) 237-6544

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